Red River Credit Union (Red River CU) is featuring two competitive CDs: 18-month (1.11% APY) and 36-month CD (1.21% APY). The minimum opening deposit for either CD is $500, with no stated balance caps. The rates on these CDs have remained fairly constant in the past four months (dropping only 4-5 bps), which can’t be said about many other similar term-length CDs.
The CDs are also available as IRA CDs (Traditional and Roth), earning the same APYs with the same deposit requirements.
The Early Withdrawal Penalty for either CD is 180 days of simple interest on the amount being withdrawn. Dividends can compound, be deposited into a savings account, or be mailed to the address on file.
Headquartered in Texarkana, Texas, Red River Credit Union’s field of membership (FOM) extends into four states. Individuals who live, work, worship, attend school, or volunteer in any the following counties are eligible for membership:
Texas: Bowie, Camp, Cass, Delta, Franklin, Harrison, Hopkins, Hunt, Lamar, Marion, Morris, Red River, and Titus.
Arkansas: Clark, Columbia, Hempstead, Hot Spring, Howard, Lafayette, Little River, Miller, Nevada, Pike, and Sevier, and Union.
Mississippi: Bolivar (portions), Coahoma, Panola, Quitman, and Tallahatchi.
Louisiana: Bossier and Caddo Parishes.
Although not listed on the Become a Member page, the following appears on the online application:
I am employed by, worship at, or student of a business/organization in the following location:
Arcadia, LA; Bastrop, LA; Blanchard, LA; Bossier City, LA; Coushatta, LA; Crossett, AR; Delhi, LA; Downsville, LA; East Carroll Parish; Elm Grove, LA; Eudora, AR; Gilliam, LA; Grambling, LA; Homer, LA; Jamestown, LA; Kenner, LA; Lake Providence, LA; Madison Parish, LA; Mansfield, LA; Minden, LA; Mira, LA; Monroe, LA; Morehouse Parish; Plain Dealing, LA; Ruston, LA; Tallulah, LA; Vivian, LA; West Carroll Parish, and Winnsboro, LA.
Relatives of current Red River CU members also qualify for membership. “A relative is defined as a spouse, child, sister, brother, grandparent, grandchild, step-relative, and adopted child.”
Joining Red River CU can be done online, or at any of 16 Texas branches located in Atlanta, Clarksville, Marshall, New Boston, Paris, Sulphur Springs, Texarkana (9), and Wake Village, or five Arkansas branches located in Ashdown, De Queen, Hope, Nashville, and Texarkana.
As stated on the Certificates page,
CONTACT US to open a certificate today.
Opening a Regular Savings account establishes your membership. The minimum deposit includes a $5.00 membership fee and $5.00 minimum balance.
Red River Credit Union has joined the CO-OP Expanded Network of Surcharge-free ATMs as of June 29th. The network covers all 50 states, 10 countries, and it includes selected locations where members may shop, like 7-Eleven, Circle K, Costco, Publix, Dunkin Donuts and Rite-Aid.
Credit Union Overview
Red River Credit Union has an overall health grade of "A" at DepositAccounts.com, with a Texas Ratio of 5.60% (excellent) based on June 30, 2020 data. In the past year, Red River CU has increased its total non-brokered deposits by $118.77 million, an excellent annual growth rate of 14.27%. Please refer to our financial overview of Red River Credit Union (NCUA Charter # 5029) for more details.
Founded in 1943 by a small group of the Red River Army Depot employees, Red River Credit Union is one of a handful of credit unions with an original FOM that extended across state lines. The City of Texarkana (where Red River CU’s headquarters is located) actually lies in both Texas and Arkansas. Red River CU is currently the 24th largest credit union headquartered in Texas, with more than 113,000 members and assets in excess of $1 billion.
On October 15, 2020, Red River Credit Union will join with 56,000 credit unions around the world in celebration of International Credit Union (ICU) Day®. This year's ICU Day theme “Inspiring hope for a global community” reflects how credit unions contribute to a brighter future by providing financial empowerment to people all over the world through financial services, education and support.
How the CDs Compare
Give that Red River CU’s footprint extends into four states, a comparison to nationally available CDs is appropriate. When compared to the similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available nationwide, Red River Credit Union's 18-month CD APY currently ranks first.
When compared to the similar length-of-term CDs tracked by DepositAccounts.com that require a similar minimum deposit and are available nationwide, Red River Credit Union's 36-month CD APY currently ranks first.
The above rates are accurate as of 10/12/2020.
To look for the best CD rates, either nationwide or state-specific, please refer to our CD Rates Table page.